Closing funds management system

Data processing: financial – business practice – management – or co – Automated electrical financial or business practice or... – Finance

Reexamination Certificate

Rate now

  [ 0.00 ] – not rated yet Voters 0   Comments 0

Details

Reexamination Certificate

active

07860766

ABSTRACT:
The invention provides an electronic method of managing a timely and irrevocable transfer of closing funds between parties within a closed community of authenticated participants using an electronic interface accessible over a distributed network. A value transaction is negotiated and finalized between a first party and a second party. The invention allows payment of closing funds on a timely and irrevocable basis from a staging account.

REFERENCES:
patent: 6711554 (2004-03-01), Salzmann et al.
patent: 6898577 (2005-05-01), Johnson
patent: 7085735 (2006-08-01), Hall et al.
patent: 7593890 (2009-09-01), Bradley et al.
patent: 7747519 (2010-06-01), Kemper et al.
patent: 2002/0049624 (2002-04-01), Raveis, Jr.
patent: 2002/0082984 (2002-06-01), Zappier
patent: 2002/0138413 (2002-09-01), Creamer et al.
patent: 2003/0033241 (2003-02-01), Harari
patent: 2003/0093371 (2003-05-01), Wilson
patent: 2004/0064402 (2004-04-01), Dreyer et al.
patent: 2004/0083164 (2004-04-01), Schwartz et al.
patent: 2004/0167850 (2004-08-01), Dreyer et al.
patent: 2005/0049961 (2005-03-01), Hansen
patent: 2005/0096996 (2005-05-01), Hall et al.
patent: 2005/0177510 (2005-08-01), Hilt et al.
patent: 2006/0036537 (2006-02-01), Lawrence et al.
patent: 2006/0036540 (2006-02-01), Lawrence et al.
Waters, Kathleen, “What is LVTS v. ACSS& why should you care?: Funds handling in an electronic environmenr, LawPro Magazine, Dec. 2004”.
Barkin, Ira, “YAre we Closed Yet? Y Some Tools to Solve New Challenges”, Mondaq.com, Apr. 27, 2003.
Jones, David. (Feb. 1993). Inter-bank funds transfer: Canadian banks to build large value payments system. Financial Technology International Bulletin, 10(6), 3.
High speed money. (May 1999). CMA Management, 73(4), 24-27.
“What is LVTS v. ACSS & why should you care?”, © 2004 Lawyers' Professional Indemnity Company. Available at www.lawpro.ca/magazinearchives.
Manzer, Alison R., “Transaction Closing Process Using the Canadian Large Value Transfer System”, Jan. 2005.

LandOfFree

Say what you really think

Search LandOfFree.com for the USA inventors and patents. Rate them and share your experience with other people.

Rating

Closing funds management system does not yet have a rating. At this time, there are no reviews or comments for this patent.

If you have personal experience with Closing funds management system, we encourage you to share that experience with our LandOfFree.com community. Your opinion is very important and Closing funds management system will most certainly appreciate the feedback.

Rate now

     

Profile ID: LFUS-PAI-O-4231502

  Search
All data on this website is collected from public sources. Our data reflects the most accurate information available at the time of publication.